[bParachute Records[/b was launched in 1977 by former 20th Century Fox Records executive and music industry veteran Russ Regan, only five buildings down the street from the main offices of Casablanca Record & FilmWorks, of which it became a subsidiary. The original label was active from 1977 to 1979.
PolyGram, which owned and operated Casablanca and all its subsidiaries since its acquisition in 1980, reactivated Parachute in 1983 as a children's label—the first of its kind for PolyGram (where Russ Regan moved on to work with in lieu of his Casablanca association).
The children's era of Parachute was even more short-lived than the previous era and the label was retired and reactivated one more time in 1995 (with a new logo) as a contemporary sub-label of Mercury Records. Its only known act from that era was Jane Kelly Williams, who scored a minor underground hit with "Show Me How to Catch a Fish."
